{"data":{"id":"us-ky/krs-386.590","jurisdiction":"us-ky","citation":"KRS 386.590","heading":"Investment adviser's contract.","body":"No person shall serve or act as investment adviser of a fiduciary investment company\nexcept pursuant to a written contract, which contract has been approved by the vote of a\nmajority of the outstanding voting securities of such fiduciary investment company and:\n(1) Precisely describes all compensation to be paid thereunder;\n(2) Shall continue in effect for a period more than two (2) years from the date of its\nexecution, only so long as such continuance is specifically approved at least\nannually by the board of directors or by vote of a majority of the outstanding voting\nsecurities of such company;\n(3) Provides, in substance, that it may be terminated at any time, without the payment\nof any penalty, by the board of directors of such company or by vote of a majority of\nthe outstanding voting securities of such company on not more than 60 days' written\nnotice to the investment adviser; and\n(4) Provides, in substance, for its automatic termination in the event of its assignment\nby the investment adviser.","path":["KRS Chapter 386"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35953","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:17Z","sha256":"b5e5afae28aa095d4ab5a7acd2eea4a5747d1896d8b866f5252fae5841f36e6f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386.580","next":"us-ky/krs-386.600"},"notice":"GroundRules: Original legal text. Not legal advice."}